Starwood owns several hotel chains here and abroad, including Westin and Le Meridien, as well as upscale hospitality brands Baccarat and One Hotels. The company purchased the Uniondale Marriott out of foreclosure last month.

The hotel’s former owner Charles Wang had defaulted on the $103.5 million mortgage he and his former partner, RXR Realty CEO Scott Rechler, leveraged to buy the property in 2007.

Rechler sold his half-interest in the property to Wang at the end of 2009 after the pair’s Lighthouse mega-plan to redevelop the Coliseum’s 77-acre parking lot fizzled. RXR still gets $566,000 a year for the hotel’s ground lease, one of 18 ground leases the company bought from Nassau County for $37.5 million in 2011.

Wang’s firm, CBW Hotel, had been making interest-only loan payments on the Marriott’s mortgage until February 2013, when the payments stopped. The loan’s special servicer, C-III Asset Management, started the foreclosure process July 29, according to documents from Trepp, a Manhattan-based commercial mortgage analyst, which also confirmed the sale price to Starwood.

Earlier this month, the hotel’s new owner assumed the tax breaks that the Town of Hempstead Industrial Development Agency had given to Wang and Rechler that expire in 2016. In exchange, Starwood pledged to retain the hotel’s 260 full-time and 72 part-time employees for the next two years, according to IDA documents.

When asked about its plans to rebrand the Marriott or whether there would be any changes in management personnel, a Starwood spokesman declined comment.

Built in 1982 by a triumvirate of local developers – Alan August, Leon Pearlstein and Don Urgo – the Uniondale Marriott has served scores of visiting hockey teams and thousands of business travelers. But the Marriott has been hurt by the failure of plans to develop the land around it, a decreasing number of Coliseum events and increasing competition from limited-service and boutique hotels opening nearby in recent years.

Despite its challenges, the hotel has been making money, recording net operating income ranging from $4.7 million to $6.5 million annually over the last four years, according to loan information supplied by Trepp.

When they bought it seven years ago, Wang and Rechler pitched the hotel as being one of the cornerstones of their $3.8 billion Lighthouse development and mortgage lender UBS accepted a $152 million pro-forma appraisal of the Marriott, $45 million more than its as-is estimate of value at the time: $107 million.

But the value of the property dropped since then. A November 2013 appraisal of the Marriott pegged its market value at $63.4 million.